You can include life insurance in your estate plan to satisfy general objectives that apply to everyone. There are also a couple of ways that life insurance can be used to satisfy very specific, uncommon objectives, and we will provide an overview in this post. Term Life Insurance When you are a younger adult with a spouse and/or children depending on you, an income replacement vehicle is an … [Read more...]
Four Documents That Should Be Part of Your Estate Plan
Estate planning can seem like a confusing endeavor, and you simply may not know where to begin. With this in mind, we are going to look at four must-have estate planning documents in this post in an effort to shrink the matter down to size. Asset Transfers The first component is an asset transfer vehicle, and many people assume that a will is the right choice unless you are extremely wealthy. In … [Read more...]
Can You Dissolve a Trust?
There are a number of misconceptions that circulate about certain aspects of the estate planning process, and some of them are related to trusts. One of these notions is the idea that you cannot change your mind and dissolve a trust once it has been created. In this post, we will provide clarity so you can go forward with a more complete understanding of the subject. Irrevocable Trusts The idea … [Read more...]
Joint Tenancy Problems in Estate Planning
Sometimes people use Joint Tenancy as an easy, simple way to do Estate Planning. However, this can have serious, unexpected drawbacks. Read on to learn more. … [Read more...]
Beware of Risky Probate Avoidance Ideas
A lot of people have heard that probate is something to avoid when you are planning your estate, because it is a hassle for the rightful heirs. There are a lot of expenses that accumulate during probate, and it is time-consuming. Inheritors usually do not receive their inheritances while an estate is being probated by the court, and it will take eight months to 18 months in most jurisdictions. … [Read more...]
